BC unemployment rate among the best in Canada

Charles Krupa  The Associated Press Files The local economy posted a net gain of only 300 new jobs in July but 300 workers also dropped out of the provincial labour force during the month. That left 683,200 people in the workforce — 649,400 of them emp

The jobless rate dropped from 5.8. per cent in July to 5.6 per cent last month. The survey shows that 110,400 part-time jobs we're created while the country shed 88,100 full-time jobs.

Statistics Canada said most of the decline in full-time work was concentrated among young Canadians aged 15 to 24 years old.

RBC assistant chief economist Paul Ferley said the wage-growth number provided tentative evidence that pressure is building on a tightening job market. Since August of past year, the number of Canadians aged 55 and over who work part-time has increased 8 per cent. "We've had 374,000 jobs created over the past year, and [almost] 60 per cent of those jobs have been full-time", he told The Globe and Mail. The full-time job losses were so large they erased three straight months of gains in that category that looked to be turning the province's economy around.

Ms. Kish said that the private and public sectors' lag behind self-employment could be because organizations were holding off hiring during the summer.

The average Canadian wage was boosted to $25.93, up 1.8 per cent year-over-year.

Ontario's economy added 31,000 jobs mostly in finance, insurance, real estate, and rental and leasing.

Separate data showed Canada's industrial capacity rose to 85.0 percent in the second quarter, its highest level since 2007, on increased volumes of oil and gas extraction. The number I would focus upon the most is the wage figures, from a Bank of Canada standpoint.

"A hallmark of employment this year has been pretty steady gains and the August report this morning is consistent with that". But again, it's just one month and it's coming off eleven previous months of exceptional strength in the jobs market.

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